The World Gold Council (WGC) stated that global physical gold exchange-traded funds (ETFs) recorded a net inflow of $4.3 billion USD last month, marking the sixth consecutive month of net inflows, driven by inflows from North America and Asia. As of the end of October, the gold holdings of ETFs were 3,244 tons, with total assets under management amounting to $286 billion USD. Global gold ETFs have seen a cumulative net inflow of $4.7 billion USD this year, with total assets under management increasing by 33% annually.

The organization stated that North American gold demand is affected by uncertainties surrounding the US presidential election, escalating military conflicts in the Middle East, and the potential involvement of North Korean soldiers in the Russia-Ukraine conflict, all of which may drive demand for gold ETFs. The organization also noted that global gold trading volume is increasing due to the rise in OTC trading and ETF activities.